USD/JPY Position Size Calculator
USD/JPY quotes to two decimals, so one pip is 0.01 and worth ¥1,000 per standard lot. Because the pip value is in yen, it must be converted to your account currency before sizing — the calculator does it automatically.
Results
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USD/JPY pip value and lot size
Yen pairs are the exception to the 0.0001 pip rule: one pip is 0.01. A standard lot is $100,000, making one pip worth ¥1,000. With a USD account at a USD/JPY rate of 150.00, that is roughly $6.67 per pip per lot — and the value drifts as the rate moves, unlike XXX/USD pairs where it is fixed.
Example: a $10,000 USD account risking 1% with a 40-pip stop at rate 150.00 gives $100 ÷ (40 × $6.67) ≈ 0.37 standard lots. The calculator pulls the current reference rate and lets you override it with your broker's exact quote.
Trading character of USD/JPY
USD/JPY offers tight spreads and clean trends, but it carries a unique event risk: Bank of Japan intervention can produce sudden multi-hundred-pip moves. Stops of 20–50 pips are common for day trades. Never raise your lot size because the pip value looks small in dollars — the formula above already accounts for it.
Frequently asked questions
Why is a pip 0.01 on USD/JPY?
Yen pairs are quoted to two decimal places instead of four, so the standard pip unit is 0.01. A move from 150.00 to 150.50 is 50 pips.
How much is one pip worth on USD/JPY?
¥1,000 per standard lot. Converted to USD it depends on the exchange rate — about $6.67 at 150.00, more as the rate falls, less as it rises. The calculator converts automatically.
Does the pip value change while my trade is open?
Slightly, yes — because the yen pip value is converted to your account currency at the moving exchange rate. The effect is small over typical trade durations but real, which is why JPY sizing uses a live rate.